Delta buys Virgin stake: The short history of a quick consummation

Jason Clampet, Skift

- Dec 11, 2012 6:40 am

Skift Take

This happened so quickly it’s clear that Delta was working behind the scenes for some time. But it’s clear that Delta is trying to better position itself and its Alliance airlines to better take on threats in Europe.

— Jason Clampet

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Today’s announcement by Delta that it had secured a 49% stake in Virgin Atlantic from Singapore Airlines for $360 million was the finale to a fevered, 10-day drama that began when the Sunday Times reported that Delta was making secret moves to buy a large portion of Richard Branson’s marquee airline.

As the days unfolded, it became clear that Delta’s pursuit of Virgin was about one thing: More slots at Heathrow for the SkyTeam Alliances, which was woefully underrepresented at one of Europe’s primary hubs. Below you’ll find Skift’s complete coverage of the events: